MTN’s Nigeria‑Ghana growth fuels revenue jump, fintech expansion

MTN reported service revenue rose 17.5% in constant‑currency terms to R115.3 billion ($7.21 billion) in the first half of 2026, with the gain driven by Nigeria, Ghana, Uganda, Côte d’Ivoire and Cameroon while South Africa managed only 1.5% growth. Nigeria is targeting at least low‑20% service‑revenue growth and Ghana mid‑to‑upper 30% expansion. The group added 6.7% more customers to reach 317.7 million, and active data subscribers climbed 9.1% to 179.3 million. Data revenue jumped 29.2% versus voice’s 2.4% rise. MTN’s mobile money platform MoMo had 70.8 million monthly active users by June; fintech transaction volumes grew 17.2% to 13 billion and transaction value increased 33.8% in constant currency to $330.5 billion, supported by 1.4 million active agents and 2.3 million fintech merchants. The company is restructuring its fintech operations in Nigeria, Ghana and Uganda and deepening its partnership with Ant International. Regarding its planned acquisition of IHS Towers, Nigeria has granted conditional approval requiring MTN to sell down up to 30% of the Nigerian IHS business to local investors. For Nigerians, this means potentially better network quality, more affordable data bundles, and opportunities to participate in the local IHS stake sale or benefit from expanded mobile money services. Will you expect improved service quality from MTN’s investments, consider participating in the IHS local‑investor offer, or explore how the growing MoMo ecosystem could affect your personal or business finances?

SOURCE: https://techcabal.com/2026/08/24/mtn-is-finding-growth-outside-south-africa/